CONSUMER PRICE INDEX (CPI)
Cost-of-Living Adjustment for County Officials' Salaries for Fiscal Year 2023-2024
Pursuant to Montana Code Annotated §7-4-2503 and §7-4-2504(1991), the cost-of-living adjustment is derived using the Consumer Price Index of all Urban Consumers (CPI-U) from the U.S. Department of Labor, Bureau of Labor Statistics (1982-84=100):
(A) Annual CPI-U index (annual average) for calendar year 2022: 292.655
(B) Annual CPI-U index (annual average) for calendar year 2021: 270.97
(C) Index point change for 2021 to 2022 [A - B]: 292.655 − 270.97 = 21.685
(D) Percent change in annual indexes from 2021 to 2022 [C / B]: 21.685/270.97 = 0.0800273 or 8.00 percent
(E) Cost-of-living adjustment factor -- 100 percent of the percent change in the annual index from 2021 to 2022 (efffective 7/1/23): 8.00 percent
